The "King of Budget Alternatives" in the Weight Loss Drug Market Has Fallen? 📉 $HIMS's stock price faced a bloodbath today, plunging 23% at one point!

Just last week, Hims & Hers officially announced the launch of the oral Wegovy combination drug for only $49, which was thought to be a positive development for the masses, but instead drew a double whammy of "regulation + legal" challenges:

1️⃣ FDA Warning: Clearly stated that it will take "decisive action" to limit the large-scale sale of unapproved GLP-1 combination drugs.

2️⃣ $NVO (Novo Nordisk) Lawsuit: Countering patent infringement, vowing to kick $HIMS out of the market.

Although $HIMS responded that this is the giants "weaponizing the judicial system" to deprive patients of their choices, the market has already given an answer: short sellers are flooding in, and multiple investment banks have downgraded their ratings.